US Markets
Home›US Markets›Sectors›Stocks slide as Treasury doubles bond buybacks, oil an…
Stocks slide as Treasury doubles bond buybacks, oil and Walmart weigh
The selloff was partly tied to a September increase in Treasury bond buybacks, while markets looked ahead to the Aug. 26 PCE inflation reading and Bitcoin rallied on hopes for the Clarity Act.
Stocks were on track for a lower week as Treasury bond buybacks, oil prices, and Walmart earnings weighed on sentiment, even as Bitcoin rose, according to MarketBeat Ratings.
MarketBeat Ratings said major indexes sold off on Thursday after U.S. Treasury Secretary Scott Bessent announced the Treasury Department would double bond buybacks starting in September. The move, it said, spooked investors already balancing rising oil prices and a cautious earnings report from Walmart.
The week was described as choppy, with investors also watching for a read on inflation next week through the Personal Consumption Expenditures, or PCE, index scheduled for Aug. 26. MarketBeat Ratings added that expectations were for continued cooling in inflation, with any deviation potentially moving markets.
On the crypto side, MarketBeat Ratings said Bitcoin’s rally followed a meeting between the White House and crypto industry leaders aimed at getting the Clarity Act passed in the next few weeks, alongside increased Treasury liquidity seen as supportive of risk-on assets.
Latest closeBitcoin $77,133.90 ▼1.5%